Venture capital firm USV announces the closing of a $900 million new fund, betting on application-layer opportunities in the AI era.

USV announced that veteran venture capital firm Union Square Ventures (USV) has successfully raised a new $900 million fund to support startups positioned at the cusp of major market shifts. USV stated that AI infrastructure buildout is already fully underway. Just as the firm backed the internet revolution in 2004, it will apply the exact same logic to invest in the “age of intelligence.” The fund’s substantial increase from the previous $275 million is designed to address the realities of the AI era, which is characterized by larger funding rounds and higher valuations. Regarding investment focus, USV outlined three core themes: AI will reshape markets rather than merely automate them; unlocking previously inaccessible “edge data” (spanning robotics, manufacturing, sensor networks, etc.); and meeting the growing demand from consumers and enterprises for more robust intelligence and stronger trust alignment (categorized under the “Rebel Alliance” theme). Energy investments have also been integrated into the core fund.